Oct. 15, 2013 – Senate leaders reportedly were near agreement Monday on how to end the federal government shutdown and raise the debt limit before Treasury runs out of tools to avert default.
The Washington Post
reported that the agreement, being hammered out by Senate Majority Leader Harry Reid, D-Nev., Minori Leader Mitch McConnell, R-Ky., and other negotiators were looking at raising the debt limit until Feb. 15 and funding federal operations until Jan. 15, "with the two sides holding budget talks before a new round of sequestration budget cuts can take effect in January."
As for the Affordable Care Act, the report said, talk now centered on delaying a new tax on existing health-care policies until 2015 and other measures to ensure those who receive subsidies to purchase health-care coverage under the statute are eligible for them.
The president had set a meeting for 3 p.m. Monday with House and Senate leaders on the shutdown impasse but canceled it so congressional negotiations could proceed.
NAFCU President and CEO Dan Berger emphasized the importance of addressing the federal debt limit before Oct. 17 – after which Treasury says the government risks default – in a letter Thursday to the leaders of the Senate Banking Committee. It was the second time in two weeks that Berger urged action to prevent a default.
Meanwhile, NAFCU continues to tout credit unions' efforts to assist members whose pay and other resources have been affected by the shutdown.